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Motilal Oswal Report
Jubilant Life Sciences Ltd. Q1 FY21 performance was adversely impacted due to Covid-19-led slowdown in demand for its Radiopharma and Life Science Chemicals segment.
The temporary two month shutdown of its Nanjangud plant (used for the contract development and manufacturing organization (CDMO) business) worsened the situation.
We reduce our earnings estimate by 14%/2% for FY21/FY22 to factor the Covid-19-led impact on the business.
We remain positive on Jubilant Life Sciences on the back of:
1) strong demand recovery in Specialty Pharma, CDMO, and Specialty Intermediates,
2) new product additions, and 3) improved operating leverage.
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